tv Bloomberg Markets Americas Bloomberg December 5, 2018 1:30pm-2:00pm EST
it is a reminder of a time in washington that you don't see too much anymore. alan simpson, of course, the hilarious renditions of some of the historical events. it did reflect the personality of the man making it on her best of the man they came here to honor. did have a common man's life even though he did not have a common touch. may not havele been aware because of the different places he lived. over the last couple of days, there are so many things that happened in four years of presidency and i also covered him as vice president. i forgot about the broccoli. in the first year of his presidential term, he announced,
halfway joking, since he was commander in chief, he didn't have to eat broccoli anymore. [laughter] got very upsets and sent cases abruptly to the white house and did a ceremony where barbara bush accepted the brockley army hat -- the ccoli on -- the bro behalf of the white house. david: the decision in 1990 to go ahead with the deal with the democrats that raised taxes and had cuts and spending as well, you said the president said it will be a punch in the gut because it put my country ahead of myself. risk.l: that was a he knew going in that would be a problem. he knew when he set up the negotiations, he sent the congressional leadership out to
andrews air force base. he knew going in that he would have to go back on his word and raise taxes. of course, it was no surprise when it happened. that he did pay a big political price for it. he knew that was the case. he knew there was really no choice. he did the right thing. david: we always think of him in terms of foreign policy. many of us think about the gulf war and the coalition he put together and the success there. minister rooney of kennedy said we may be -- of canada said we maybe underestimated. any misstep could have brought the whole thing down. >> as we look back over history, the current view is come a well, the russian empire was going to fall. it was rotting from the inside. this was all sort of an in regionble path to the
was on. not at all. started butn got it it was george h.w. bush that had to do the hard part, where you had to tiptoe into those diplomatic waters, reading five germany, make sure nato a strong but not too strong, negotiate the arms deals and make sure that russians did not feel threatened and lash out. again, bush's legacy, people recall that is being that was going to happen anyway and ronald reagan did all the work. i think george h.w. bush gets a lot of the credit and he got that credit today. david: he was a man of institutions, respected and revered them. enoughbuild them strong so they can withstand whatever happens in the future? michael: that is two different questions. it is hard to say that you can withstand anything that happens in the future after the alaska blood years. but he didn't just -- after the last couple of years. but he did understand
institutions. he came to office understanding how he wanted to run his national security, his foreign policy operation. he remade the national security so the, created it national security director would be much more of an honest broker than had been in the past. he had seen the rivalries between henry kissinger and george schulz and others. he knew he didn't want that. so he said it up so that he would get honest advice. of people he put in charge foreign policy would have that responsibility themselves. to craigny thanks gordon here in washington at the michael mckee up in new york. we welcome now kevin cirilli, bloomberg's chief washington correspondent. kevin, give us a sense of the atmosphere up there at the cathedral now.
moments ago, president trump and first lady melania and their motorcade making their way directly on the road behind as they departed national cathedral. there are five presidents in total here at this or a money, president trump in the front room -- at this ceremony, president trump in the front and with president obama president carter and their respective wives. it was a moment of political pause, politics on pause for much of that. body language and the interaction between all of these leaders will be dissected. from here, president trump returns to the white house. he has meetings today with king abdullah of jordan. there are other global leaders in attendance, including german chancellor angela merkel. that there were also mike lovejoy, the longtime resident
-- i'm sorry, longtime staffer at kennebunkport, maine. this is a rare moment of political pause. you heard from the eulogies the various perspectives, the humor we heard from former senators simpson, capturing the personality of the former president, the statesman quality that we heard from the former canadian prime minister, and of course, we heard from the likes of john meacham, his biographer, again, drawing on his legacy. but it was former president george w. bush, his son, who really did capture the attention of all the political observers here in washington and inside the national cathedral. it was, again, a moment where there were democrats and republicans alike, like nancy toosi also in attendance, attend and to honor the legacy of the late president as george
h.w. bush, who from here, he and his families will go to houston. they will have a second memorial service tomorrow. then he will be ultimately laid to rest on his presidential library grounds. david: it is a remarkable day, capital.ic day in the tomorrow, you will come back to work and there's the nation's business to do and there are politicians on both sides of the island disagreements to have. will washington remember anything tomorrow what happened today? kevin: they will remember his legacy, but you are right. the culture and the climate right here is a polarized climate in washington that goes on. we saw the trade yesterday in the markets. there is a potential government shutdown on december 21. the president is decline today a national day of mourning, and extending the deadline in case of the budget. but it's back to work for washington come tomorrow. david: many thanks to kevin
cirilli from outside the national cathedral. that concludes our special coverage of the state funeral of president george herbert walker bush, the 41st president of the united states of america. bloomberg markets will have more coverage as the funeral procession heads the joint base andrews. from washington, i'm david westin. ♪
here are the top stories we are following from around the world. remembering 41, the world mourns the loss of former u.s. resident george h.w. bush. china response to tariffs, confirming the 90-day deadline for talks as trump ramps up the pressure. countdown to opec. with just one day to go before the critical summit, oil gains ground. the nation today remembers the legacy of president george h.w. bush, and perhaps the most important part of that legacy lies in his foreign-policy achievements. dictator isf the over. >> i'm peter jennings in new york. astonishing news from east germany where the authorities have said that the berlin wall does it mean anything anymore.
[cheering] >> by the grace of god, america won the cold war. >> his presidency from a foreign policy standpoint, he was such a consequential president. he knew foreign policy. he understood it. he managed the end of the cold war peacefully without a bang. >> it was his foreign policy dream team that helped him do that. >> a tremendous privilege to be asked to join the team. .t was a great team we had all worked together before the administration. so he put the old. team back together. >> as 41 set the stage for many of the issues that plague the world today. the origins of mass the -- of nafta. problems in the middle east. and the changing china. >> after tn amends where,
instead of screaming at china, i he sent -- and it made a difference. and when saddam hussein invaded kuwait, he stopped of that. effective. >> if he were involved now, he would still be very supportive of an an aggressive -- an aggressive trade policy with china. but he is very strategic and look forward to the kind of relationship we want to have a china, not just in trade, but how we look at resolving major common interest, like north korea. president george herbert walker bush will be remembered first and foremost for his remarkable for achievement. >> he was a patriot. he demonstrated that at war and a piece. he was the most qualified person with respect to foreign policy ever to serve as president of the united states of america. shery: we are now taking you to let pictures of john pace as jurors -- of joint base andrews.
he will now be flown to houston, texas. remain ins will repose at saint martin's episcopal church in houston. thousands honor the life and legacy of the 41st president. we are now waiting his arrival here at joint base andrews, where he will be taken back home to houston in texas. we will keep you updated on the funeral procession and where they are at as soon as we get more news. china,, let's turn to and president trump saying that beijing is sending very strong signals following trade discussions at the g20. uncertainty remains are what commitments were made between the two nations.
serve mcgregor washington, great to have you with us. -- sarah mcgregor in washington, great to have you with us. more confirmation that the trade talks with the u.s. were successful, yet not a lot of details. with we have been faced confusing, conflicting messages from the trump administration about the substance of the trade deal with china. i do think the commerce gaveter's statement that the official statement from that, it offered some reinsurance is. things -- reassurances. things seem to be attract. they are in talks for a deal. china acknowledged for the first time a 90-day window to come up with an agreement. markets are closed today, but it may be a good sign for tomorrow. shery: sarah, think you for that. -- thank you for that. in europe, u.k. still feeling
theresa may isas forced us to publish previously secret legal advice, a verdict.ly explosive what did that six-page legal advice contained? this six-page document basically said, in black and white, it makes clear that the u.k. cannot escape from this so-called irish border backstop. that is what the hardline brexiteers hate so much. after two years of negotiations, you can't agree a deal, and this backdrop scenario. said she doesn't think we will end up in it. no sense to worry about it.
we have assurances. but this little text, legally, it is a matter what people think now because the politics might change and other things might change. there is a chance that the u.k. could be stuck in this backstop. shery: we just saw prime minister may lose three key votes. what does this spell for december 11? >> it is not looking good. people in parliament now are tweeting about not whether she will lose the vote next week, but how much she will lose the vote by. i was talking with one tory mp today who said he felt very depressed about the future of the party in the brexit seemsations because she to be on course to lose. that's because the northern irish party, which she is supposed to have an agreement with, they say they can't back
this brexit deal. which is why she lost the last three votes. shery: if parliament rejects the deal next week, this would be uncharted territory. do we have any idea what happens next? about,e's a lot to talk the different options she could have. assuming -- because one option would be that labour calls a vote of no-confidence in the government. if may is still prime minister, she could go back to the european union and get changes to the text, maybe something more that backstop, get more assurances or some kind of parliamentary veto that they could come out of the backstop. also talking about a second referendum. that comes with a lot of questions and uncertainty as well. we could even end up with a general election. shery: but the government is
still trying to persuade lawmakers. we are now hearing that the prime minister's saying that she is listening to her colleagues' concerns on the irish backstop. we talked about it being like, if you are an athlete running in a race in the olympics, you don't talk about what happens if you lose. she is just very focused on trying to win this vote, despite the numbers looking so bad. you, our u.k. politics reported joining us from westminster. coming up, one day to go before a critical opec summit and why most agree for a need for a cut in oil production. no expedition on how. we are still awaiting the arrival of the casket carrying george h.w. bush to joint base
shery: this is bloomberg markets. we are still awaiting the arrival of george h.w. bush's casket at joint base andrews. we saw people honoring the life and legacy of the 41st president of the united states at the national cathedral in washington . he will be arriving here at joint base andrews where he will be flown to ellington field, houston, texas. you can see the funeral procession right now coming into joint base andrews. we are also expecting the bush family to arrive as well, where
they will have a separate ceremony there at joint base andrews. the casket carrying the 41st president of the united states now arriving at joint base sanders in maryland -- joint maryland.ws in he will be flown to ellington field, houston, maryland. he will be flown to ellington field, houston, texas. he will lie in repose at st. maarten's episcopal church. and then he will be interred later on thursday at the george bush presidential library and museum. we will bring you more as we get them. first, let's talk about opec and its allies still haggling of the size of potential crude production cuts indian on wednesday, as prez -- cuts in vienna on wednesday. in a tweet, president trump wrote hopefully opec will be keeping oil flows as is. the world does not want to see or need higher oil prices. here with some more insights
before tomorrow's critical summit is jessica summers. what have we seen so far from saudi arabia and russia? we know they came to some sort of agreement, but we have not seen any details. jessica: a lot is up in the air. we had a joint ministerial meeting earlier. they came out and said opec has agreed to some sort of a cut deal but did recommend -- but did not recommend a number yet. tightlipped tehre action -- there actually. trump's tweets affect the markets at all? jessica: no, the markets triggering it off. but can saudi arabia shrugged this off? saudi arabia and the u.s. have been historic allies.
will we see saudi arabia go against trump in the u.s. and go ahead and cut production? shery: jessica summers with the latest on oil and opec. thank you so much. we will take you back to joint base andrews where we are now seeing the casket of the 41st president of the united states arrive. he will be flown to ellington field, houston in texas. the bush families with him right now. you can see that his remains have now arrived at joint base vendors, where he will be -- joint base andrews, where he will be flown back to his home in texas. this is bloomberg. ♪
texas, where the remains of the 41st president, george h.w. w bush, will lie in state at st. lawrence episcopal church. this comes on the heels of a very somber ceremony, a very sentimental ceremony in washington, d.c.. caroline: a round of applause is not something you often hear at a funeral, but for a fan of the --t president two went on but for fan of the 41st president, the 43rd president george w. bush making a heartfelt speech. it was a full cathedral with an assembly that lasted at least notably, a so, but vast array of current and past presidents sat in the front row. scarlet: a nation coming together for the passing of this president.